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HMRC internal manual

Oil Taxation Manual

From
HM Revenue & Customs
Updated
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Capital allowances: mineral extraction allowance - interaction with other types of capital allowances

For chargeable periods ending after 26 July 1989, CAA2001\S7 allows companies to choose the relief where more than one of the types of capital allowances is claimable. This is particularly relevant for oil companies where either MEA or Research and Development Allowances may be claimed.